Establishing a strategy should always be your first step when starting anything, even the most basic of research. Knowing your game plan, targets to hit, customers to speak with and competitors to analyze should be outlined before making any big moves. In this talk from the New York Founder Institute, Andrew Lee says skip this step, and you’ll risk making a false start.

Andrew Lee is currently an Entrepreneur-in-Residence / Senior Adviser with the U.S. Small Business Administration where he focuses on high-growth startups. Additionally, he is one of the Founder Institute’s highest rated mentors, offering his startup insights everywhere from Los Angeles, Europe, Asia and more. This summer he will be mentoring with the Singapore Founder Institute, which is currently accepting applications.

Before finishing off his talk with a thorough Q&A session, Andrew explains why competitors and big markets are essential for your startup’s survival. He says, great surfers need great waves. Without them, it would be impossible to see their true talents.

To hear more great startup insights from Andrew, check out the video below and register today for the Singapore Founder Institute. Apply for free by this Sunday (April 7th) to qualify for Founder Institute Fellowships. Click here to learn more.

The Founder Institute is the world's largest entrepreneur training and startup launch program, helping aspiring founders across the globe build enduring technology companies. Based in Silicon Valley and with chapters across 50 countries, the Founder Institute has helped launch over 1,563 companies in 5 years. The company's mission is to "Globalize Silicon Valley" and build sustainable startup ecosystems that will create one million new jobs worldwide.